Key Developments For Sun Bancorp, Inc.
Sun Bancorp, Inc. (SNBC.O) (Nasdaq)
Sun Bancorp, Inc. Files $75 Million Shelf Registration
Sun Bancorp, Inc. announced the filing of a universal shelf Registration Statement on Form S-3 with the Securities and Exchange Commission (SEC). The Registration Statement on Form S-3 is subject to review by the SEC. The filing of the Registration Statement does not require the Company to issue any securities. If and when the Registration Statement is declared effective by the SEC, the Registration Statement will allow the Company the flexibility to offer and sell, from time to time over a three-year period, in one or more public offerings up to a total aggregate of $75 million of its common stock, preferred stock, debt securities, trust preferred securities, units, depositary shares or warrants, either separately or together.
Sun Bancorp, Inc.'s CFO Dan A. Chila Terminates His Employment-Form 8-K
Sun Bancorp, Inc. reported in its Form 8-K that on August 17, 2009, Dan A. Chila, Executive Vice President and Chief Financial Officer of the Registrant would be terminating his employment with the Company as of December 31, 2009 (the Separation Date) in order that he may pursue other opportunities.
Sun Bancorp, Inc.'s Sun National Bank Launches Sun Bank Business Credit
Sun Bancorp, Inc.'s Sun National Bank announced the launch of Sun Bank Business Credit, the addition to the bank's in-house capabilities that serve commercial borrowers' broad range of financing needs.
WSFS Financial Corporation's WSFS Bank Completes Acquisition Of Delaware Branch Network From Sun Bancorp, Inc.'s Sun National Bank
WSFS Bank, a subsidiary of WSFS Financial Corporation announced that it has completed the acquisition of the six full-service Delaware branches of Sun National Bank, the primary subsidiary of Vineland, NJ-based Sun Bancorp, Inc. In addition, between close of business on October 24, 2008 and the reopening of branches on October 27, 2008, WSFS converted the six Sun National branches and more than 9,600 customer deposit accounts totaling approximately $96 million to WSFS Bank. Two Sun National locations in Newark, Delaware and 4th Street in Wilmington, Delaware have been consolidated into nearby WSFS banking office locations. Terms of the transaction were not disclosed.
Sun Bancorp, Inc.'s Sun National Bank And Northeast Planning Corporation Announces Strategic Partnership To Create Sun Wealth Management
Sun Bancorp, Inc.'s Sun National Bank, a primary subsidiary of the Company and Northeast Planning Corporation announced a strategic partnership that creates Sun Wealth Management, a new bank division that will provide a full range of business and individual financial planning and wealth management solutions to Sun's Commercial and high net worth customer base.
